24 Apr, 2020
The latest episode of the TechThisWeek podcast brings you news and insights, wrapped up in a weekly roundup of the following hand-picked developments in the startup and enterprise technology ecosystems in India.
- The week saw India’s largest ever FDI in the technology sector. Facebook made a strategic investment of $5.7 bn in Reliance Jio.
- Infosys defers FY21 earnings guidance and increments. Technology giant IBM too withdrew its full-year earnings guidance.
- Startups continue cost-cutting this week too with unicorns Swiggy and Oyo laying off employees.
- Government decision of only essentials being delivered comes as a U-turn for food-delivery and other e-commerce companies, which have been hit due to the lockdown. For the first time the Indian ecommerce sector saw zero growth owing to the pandemic.